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Nature of Operations, Segment Reporting and Geographical Information
 12 Months Ended
Jan. 31, 2022
Segment Reporting [Abstract]  
Nature of Operations, Segment Reporting and Geographical Information
Note 17—Nature of Operations, Segment Reporting and Geographical Information
Our operations consist of the design, development, manufacture and sale of specialty printers and data acquisition and analysis systems, including both hardware and software and related consumable supplies. We organize and manage our business as a portfolio of products and services designed around a common theme of data acquisition and information output. We have two reporting segments consistent with our revenue product groups: Product Identification (“PI”) and Test & Measurement (“T&M”).
Our PI segment produces an array of high-technology digital color and monochrome label printers and mini presses, labeling software and supplies for a variety of commercial industries worldwide. AstroNova’s T&M segment produces data acquisition systems used worldwide for a variety of recording, monitoring and troubleshooting applications for many industries including aerospace, automotive, defense, rail, energy, industrial and general manufacturing. The T&M segment also includes our line of aerospace flight deck and cabin printers.
Business is conducted in the United States and through foreign branch offices and subsidiaries in Canada, Europe, China, Southeast Asia and Mexico. Manufacturing activities are primarily conducted in the United States. Revenue and service activities outside the United States are conducted through wholly-owned entities and, to a lesser extent, through authorized distributors and agents. Transfer prices are intended to produce gross profit margins as would be associated with an arms-length transaction.

The accounting policies of the reporting segments are the same as those described in the summary of significant accounting policies herein. We evaluate segment performance based on the segment profit before corporate and financial administration expenses.
 
Summarized below are the revenue and segment operating profit (loss) (both in dollars and as a percentage of revenue) for each reporting segment:

($ in thousands)
 
Revenue
 
 
Segment Operating Profit
(Loss)
 
 
Segment Operating Profit (Loss)
as a % of Revenue
 

 
2022
 
 
2021
 
 
2020
 
 
2022
 
 
2021
 
 
2020
 
 
2022
 
 
2021
 
 
2019
 
Product Identification
   $ 90,915     $ 90,268     $ 88,116     $ 10,411     $ 12,885     $ 7,509       11.5 %      14.3 %      8.5 % 
T&M
     26,565       25,765       45,330       3,398       (1,032 )      6,281       12.8 %      (4.0 )%      13.9 % 
   
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
Total
   $ 117,480     $ 116,033     $ 133,446       13,809       11,853       13,790       11.8 %      10.2 %      10.3 % 
   
 
 
    
 
 
    
 
 
                            
 
 
    
 
 
    
 
 
  
Corporate Expenses
                             9,553       9,420       11,357                          
                           
 
 
    
 
 
    
 
 
                          
Operating Income
                             4,256       2,433       2,433                          
Other Income (Expense), Net

                             2,778       (254)       (1,063)                          
                           
 
 
    
 
 
    
 
 
                          
Income Before Income Taxes
                             7,034       2,179       1,370                          
Income Tax Provision (Benefit)
                             605       895       (389 )                         
                           
 
 
    
 
 
    
 
 
                          
Net Income
                           $ 6,429     $ 1,284     $ 1,759                          
                           
 
 
    
 
 
    
 
 
                          
No customer accounted for greater than 10% of net revenue in fiscal 2022, 2021 or 2020.
Other information by segment is presented below:
 
(In thousands)   
Assets
  
 
 
January 31,
 
    
2022
     
2021
  
Product Identification
    $ 51,732      $ 50,047  
T&M
      50,374        51,262  
Corporate*
      12,849        14,164  
    
 
 
     
 
 
  
Total
    $ 114,955      $ 115,473  
    
 
 
     
 
 
  
 
*
Corporate assets consist principally of cash, cash equivalents, deferred tax assets and refunds, and certain prepaid corporate assets.
 
(In thousands)   
Depreciation and
Amortization
     
Capital Expenditures
  
    
2022
     
2021
     
2020
     
2022
     
2021
     
2020
  
Product Identification
    $ 1,157      $ 1,835      $ 1,928      $ 847      $ 1,563      $ 2,001  
T&M
      2,837        4,148        4,356        949        1,024        905  
    
 
 
     
 
 
     
 
 
     
 
 
     
 
 
     
 
 
  
Total
    $ 3,994      $ 5,983      $ 6,284      $ 1,796      $ 2,587      $ 2,906  
    
 
 
     
 
 
     
 
 
     
 
 
     
 
 
     
 
 
  
Geographical Data
Presented below is selected financial information by geographic area:
 
 
 
 
 
 
 
Long-Lived Assets*
 
(In thousands)
  
Revenue
 
  
January 31,
 
 
  
2022
 
  
2021
 
  
2020
 
  
2022
 
  
2021
 
United States
    $ 68,185      $ 70,911      $ 83,671      $ 29,131      $ 31,226  
Europe
      31,922        29,029        29,617        1,486        2,274  
Canada
      6,519        5,574        5,719        9        13  
Asia
      5,926        5,105        8,316       
15
        —  
Central and South America
      3,271        3,950        4,145        —        —  
Other
      1,657        1,464        1,978        —        —  
    
 
 
     
 
 
     
 
 
     
 
 
     
 
 
  
Total
    $ 117,480      $ 116,033      $ 133,446      $ 30,641      $ 33,513  
    
 
 
     
 
 
     
 
 
     
 
 
     
 
 
  
 
*
Long-lived assets exclude goodwill assigned to the T&M segment of $4.5 million at both January 31, 2022 and 2021 and $7.6 million and $8.3 million assigned to the PI segment at January 31, 2022 and 2021, respectively.